AGI Greenpac Limited has announced plans to raise up to ₹1,500 crore via equity shares and equity-linked securities. The board of directors approved the proposal during its meeting on Friday, December 20, 2024.
| Company | Value | Change | %Change |
|---|
The proposed issuance will be conducted in one or more tranches, and the total amount will not exceed the aforementioned amount, inclusive of any premium on the securities.
The company may issue equity shares and/or equity-linked securities or a combination of both. The pricing of these securities, including any premium, will be determined in compliance with applicable regulations.
A significant portion of the fundraising is expected to come through a qualified institutional placement (QIP), enabling the company to attract investments from institutional players.
The company has also kept the option of a rights issue, which will allow existing shareholders to subscribe to additional shares at a discounted price. Similarly, a preferential issue is on the table, which involves issuing shares to a select group of investors, ensuring strategic funding from key stakeholders.
Also read: Restaurant Brands Asia approves ₹500 cr QIP, employee stock option scheme
The face value of the equity shares for this fundraising is ₹2 each, as per the company’s existing capital structure.
To implement these measures, the board has approved the circulation of a postal ballot notice to seek approval from shareholders. The Corporate Affairs Committee will oversee the process and make decisions regarding the timing, structure, and terms of the fundraising.
Shares of AGI Greenpac, a key mid-cap player in the packaging industry, saw a 52-week high of ₹1,300 on the BSE today. However, amid broader market volatility and selling pressure, the stock pared gains and closed 3.2% lower.
(Edited by : Shoma Bhattacharjee)
